So grateful for the ACA

[pb4uski]

This article suggests that the political winds have shifted and ACA is not in any real danger..

https://www.politico.com/news/magazine/2022/04/26/gop-obamacare-aca-health-care-00027585

 

[csoul]

The ACA has been a godsend for my wife and I, first as self-employed, then transitioning into early retirement. Managing our income to maximize the tax credit has been a bit of a pain, but worth it. I'm looking forward to going on Medicare in a few years so we'll have a little flexibility to do more substantial Roth conversions.

 

[bobandsherry]

This article suggests that the political winds have shifted and ACA is not in any real danger..

https://www.politico.com/news/magazine/2022/04/26/gop-obamacare-aca-health-care-00027585

That is from 2022, lots of things can shift, including the winds for ACA come next year.

 

[F.I.R.E User]

It depends on your income. I am 61 yo and paying $1,300 per month on a silver plan without subsidies.

What is your deductible? I guess this protects you from catastrophic costs?

 

[RetiredHappy]

What is your deductible? I guess this protects you from catastrophic costs?

It is a regular health insurance plan, except applicants are subject to underwriting. Once you are accepted, they cannot kick you out.

Calendar deductible: $5,500 (individual)
Maximum Out of Pocket: $9,000 (individual)
PCP co-pay $25
Specialist co-pay $50

$1,300 per month includes dental (silver plan). It goes up every year. I turn 62 this year, so I have 3 more years before Medicare kicks in.

You can find cheaper rates through ACA and possibly subsidies. Since I am not eligible for subsidies anyway, I just want the best plan.

 

[pb4uski]

That is from 2022, lots of things can shift, including the winds for ACA come next year.

I actually saw a similar themed article just a few days ago and attached the wrong link.

 

[jesaco]

I could not have retired at age 60 (year 2015) without the ACA. My company was paying $3.200 a month (Me. wife and son). I know how much the premiums were (UHC) because i approved the invoice before it was paid. It offered excellent coverage but I could never afford that amount if I took COBRA. ACA cost $820 with a $480 subsidy in 2016 so we only paid $340 a month. (I have been a diabetic for years and will never pass underwriting without the ACA). I am now in Medicare, my son has his own insurance from his job so its only my wife who uses ACA coverage. she will be in Medicare in 2 years. People who says ACA is too expensive but imagine going to a hospital without insurance.

 

[MichaelB]

Can we please leave the politics out of the discussion ?

 

[kongmen]

If you have a reasonable (but not extravagant) pension which doesn't allow you to "hide" your wealth while others help pay your medical insurance needs you may not have such an appreciation for the unaffordable care act. Js...


In the early days one couldn't even opt out without being forced to subsidize others.

 

[ShokWaveRider]

If you have a reasonable (but not extravagant) pension which doesn't allow you to "hide" your wealth while others help pay your medical insurance needs you may not have such an appreciation for the unaffordable care act. Js...


In the early days one couldn't even opt out without being forced to subsidize others.

It was designed for those who really need it. This sounds like sour grapes. We are glad those who need healthcare and cannot afford to buy on the open market have this option. It IS a godsend for them.

 

[kongmen]

Oh it is sour grapes without a doubt!

 

[Texas Proud]

Most do not realize how much ACA options vary across the country, especially for folks with serious ongoing pre-existing conditions. I was on ACA (after exhausting COBRA) when I tried to ER some years back. ALL ACA options in my area (regardless of high (no subsidy) premiums) included high out-of-pocket max'es, NO out-of-area non-emergency coverage, and literally more limited provider networks than Medicaid. When my wife lost access to her eye specialist (literally no ACA participating subspecialist ophthalmologists in my area- even tho I worked in local health care with local connections) it scared us so much I went back to w@rk to get access to employer health insurance until I could COBRA again to Medicare. The promises of ACA turned out empty for DW & I.

Not to be negative on your comments, but preexisting conditions had nothing to do with what plans are available to people on the ACA... the plans are the same for everybody where they are offered, the sick and the healthy... it is just crappy plans are crappy plans and the sick get to see how bad they are but the healthy do not...

 

[Dtail]

If you have a reasonable (but not extravagant) pension which doesn't allow you to "hide" your wealth while others help pay your medical insurance needs you may not have such an appreciation for the unaffordable care act. Js...


In the early days one couldn't even opt out without being forced to subsidize others.

Many folks don't have a reasonable pension either or start the pension at age 65.
Most folks who complain about the ACA insurance can't use it themselves.
If you could get subsidies and great coverage, would you turn it down on principle? I don't think so.
I retired to Florida which has great options and participating doctors and happened by chance to have a large taxable account.

This is a loophole used by an insignificant portion of the population (outside of this forum) and they can always close the loophole if they wish.

 

[Dtail]

Not to be negative on your comments, but preexisting conditions had nothing to do with what plans are available to people on the ACA... the plans are the same for everybody where they are offered, the sick and the healthy... it is just crappy plans are crappy plans and the sick get to see how bad they are but the healthy do not...

I think the bigger issue for ERHoosier is the lack of participating doctors in good (PPO) style plans. That is a big negative of the ACA plan, where coverage can differ greatly even in the same state.

 

[Onda]

If you have a reasonable (but not extravagant) pension which doesn't allow you to "hide" your wealth while others help pay your medical insurance needs you may not have such an appreciation for the unaffordable care act. Js...


In the early days one couldn't even opt out without being forced to subsidize others.

Now you can at least get that medical insurance.

Before if you did not have reasonable health (but not extravagant) with health problems that you could not "hide," you might not even be able to buy medical insurance. You might not have such an appreciation for unobtainable medical insurance.

 

[kongmen]

"Most folks who complain about the ACA insurance can't use it themselves"


Agreed... but even if they can't use it themselves they are subsidizing those who can even after the mandate was removed in the form of higher premiums.


Just another government wack a mole program.

 

[kongmen]

Now you can at least get that medical insurance.

Before if you did not have reasonable health (but not extravagant) with health problems that you could not "hide," you might not even be able to buy medical insurance. You might not have such an appreciation for unobtainable medical insurance.

The real answer is to take the government and the insurance companies out of the equation and let consumers deal directly with the providers, hospitals and all.

 

[orchid55]

We regarded the ACA as bankruptcy insurance rather than health insurance. One good thing about the ACA for us was that it was so expensive (for limited coverage) that Medicare seems like a screaming bargain to us (for much more comprehensive care).

I do wonder about the blowback when the many people on subsidized ACA become eligible for Medicare and realize that in most cases it won't be subsidized.

 

[Dtail]

We regarded the ACA as bankruptcy insurance rather than health insurance. One good thing about the ACA for us was that it was so expensive (for limited coverage) that Medicare seems like a screaming bargain to us (for much more comprehensive care).

I do wonder about the blowback when the many people on subsidized ACA become eligible for Medicare and realize that in most cases it won't be subsidized.

Hey, I will be one of those peeps next year and have no issues with the higher costs of Medicare.
Saved over 20k yearly for 8 years. Medicare has many years to surpass the savings.

 

[MichaelB]

Getting back on topic, one of the underappreciated achievements of the ACA was the essential health benefits and coverage mandates. By requiring all policies to meet certain coverage standards it effectively standardized health insurance coverage and allowed consumers to compare plans.

 

[GenXguy]

Even though the mandate penalty went away, the ACA has been great, and it's not just ACA marketplace plans, but the entire ACA law which includes the Medicaid Expansion and other changes to health care beyond that and the marketplace plans.

I'm happy to have subsidized all those costs for people to have health care. It was definitely needed. It's not perfect, but many times better than what we had before.

 

[Fermion]

If ACA would not have come available, we likely would have put off retirement and stayed at Microsoft. Thus the ACA has cost us about $5,000,000 or so.

 

[pb4uski]

The real answer is to take the government and the insurance companies out of the equation and let consumers deal directly with the providers, hospitals and all.

No, that would be far worse.

Since we don't have the courage to go all the way to universal health care like Canada, the UK and some other developed countries, then I would like to see us at least separate health insurance from employment. Each person would buy individual health insurance like they buy car or home insurance. If they change jobs it is a non-event. If the cost of individual health insurance is unaffordable then provide help in the form of subsidies as we do now.

 

[pb4uski]

Even though the mandate penalty went away, the ACA has been great, and it's not just ACA marketplace plans, but the entire ACA law which includes the Medicaid Expansion and other changes to health care beyond that and the marketplace plans.

I'm happy to have subsidized all those costs for people to have health care. It was definitely needed. It's not perfect, but many times better than what we had before.

We agree on something for once. While we'll never know, I wonder how many serious illnesses that would have cost a lot of money were able to be discovered and treated early and actually saved us money in the long run.

 

[pb4uski]

We regarded the ACA as bankruptcy insurance rather than health insurance. One good thing about the ACA for us was that it was so expensive (for limited coverage) that Medicare seems like a screaming bargain to us (for much more comprehensive care).

I do wonder about the blowback when the many people on subsidized ACA become eligible for Medicare and realize that in most cases it won't be subsidized.

+1 when were were on ACA (unsubsidized) it gave us two things... 1. Insurance aganist some unknown serious illness other than the deductible and 2. Access to negotiated rates for health care services. Luckily, we are healthy so the first never happened... in fact, we never came close to exceeding our deductibles.

When we went on Medicare our monthly health insurance costs actually went up, but our deductible went away and we were no longer chained to certain networks so we had much better coverage.

You are right, there are way too many people who think that when they get on Medicare that their healthcare is "free" and they don't understand that you still need to pay Part B premiums, Medigap premiums and buy Part D for Rx.

My HS friend didn't have Medigap coverage for a full year because he didn't know that he needed it to protect himslef from Medicare deductble exposure which can be substantial.